RATE Group | Legal opinion: Ohio’s acceptance of bitcoin for taxes violated law – News – The Reposito…
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Legal opinion: Ohio’s acceptance of bitcoin for taxes violated law – News – The Reposito…

05 Nov Legal opinion: Ohio’s acceptance of bitcoin for taxes violated law – News – The Reposito…

Posted at 23:52h in Bitcoin News by

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COLUMBUS  Former Ohio Treasurer Josh Mandel violated state law by accepting bitcoin from business taxpayers to settle state obligations, according to a legal opinion Attorney General Dave Yost released Tuesday.

Essentially, Mandel failed to obtain required approval of the State Board of Deposit, Yost said.

“The State Board of Deposit must approve the collection of state taxes using OhioCrypto.com, or a similar financial transaction device … before the treasurer may collect taxes using OhioCrypto.com or a similar financial transaction device,” Yost concluded in the four-page opinion.

The State Board of Deposit requested that Yost evaluate the matter.

In October, Ohio Treasurer Robert Sprague suspended the use of bitcoins, citing concerns the contract with a third-party payment processor was not competitively bid by Mandel, which would have been required if the Board of Deposit had approved the arrangement. OhioCrypto.com, a website launched in 2018 under Mandel, was the…

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